1. Field of the Invention
The present invention generally relates to information management systems. More particularly, the invention relates to management of information related to one or more business units of an organization.
2. Related Art
With the growth of business, a large amount of information is generated by different business units in an organization. To monitor the performance of the business units and to establish compliance with several regulatory standards, the information related to the business units needs to be managed in an efficient manner. The information usually includes balance sheet accounts including information related to the financial matters and processes of the business units. The performance of a business unit is monitored and analyzed by authorities responsible for the finances of the business units. Examples of the authorities may include account owners, process owners, or the like.
In an existing solution, an information management team compiles the information related to the business units and sends it to the corresponding account owners via electronic mail. The account owners review the information and communicate with the information management team if any modification needs to be made. Therefore, in this existing solution, a large number of emails are exchanged between the information management team and the authorities responsible for the business units. Moreover, the size of the emails may be large due to the amount of information that needs to be sent to the account owners. Also, the information needs to be converted to different formats for different account owners. This requires considerable effort from the information management team. Further, the account owners are dependent on the information management team for the updates on the information related to the business units. The existing solutions also require a considerable amount of time and do not ensure the security of the information.
Given the foregoing, what is needed is a system, method and computer program product for managing information related to one or more business units of an organization, which will overcome the deficiencies of existing systems.